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Versant Funding Inks $1.8MM Factoring Facility for Sweets Distibutor

September 09, 2020, 09:00 AM
Filed Under: Distribution

Versant Funding LLC announced it has funded a $1,800,000 non-recourse factoring facility to a national distributor of sweets and treats.

“Versant’s offering was an excellent match for this evolving business,“ according to Chris Lehnes, Business Development Officer for Versant Funding and originator of this financing opportunity.

“When COVID-19 began to impact its core customer base of department stores and retailers, our client was nimble enough to pivot to target the better-performing grocery and pharmacy
channels,” Lehnes added. “We do not set a cap on our factoring facilities. So, provided our client continues to sell its products to strong companies, as this business grows, so does its access to cash.”

Versant Funding's custom Non-Recourse Factoring Facilities have been designed to fill a void in the market by focusing exclusively on the credit quality of a company's accounts receivable.

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